Weekly Interest Rate Overview

The Markets. Rates were stable in the past week as we approached another jobs report, though they started trending upwards. Freddie Mac announced that for the week ending April 3, 30-year fixed rates increased slightly to 4.41% from 4.40% the week before. The average for 15-year loans rose to 3.47%. Adjustables were also up slightly with the average for one-year adjustables increasing to 2.45% and five-year adjustables rising to 3.12%. A year ago 30-year fixed rates were at 3.54%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans were little changed amid a week of light economic reports. Of the few releases, real GDP was revised up slightly to 2.6 percent growth in the fourth quarter of 2013. The private sector added an estimated 191,000 jobs in March, which followed an upward revision of 39,000 jobs in February according to the ADP Research Institute. Also, the Institute for Supply Management reported the manufacturing industry rebounded from a soft February but was still below market consensus.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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